The Real Deal New York

Retailer Ted Baker strikes deal for flagship at 595 Fifth Avenue

November 14, 2011 10:41AM

Ray Kelvin, founder of Ted Baker, commonly keeps his face hidden from the public and the store at 595 Fifth Avenue
British clothing brand Ted Baker has inked a lease for 12,000 square feet of space at 595 Fifth Avenue, a five-story building on the Northeast corner of 48th Street, according to Cushman & Wakefield, which represented the landlord in the deal. Ted Baker will open a flagship store at the site, Cushman said, replacing the previous tenant Sprint.

“Ownership is thrilled that Ted Baker chose their property, which is one of the best corner, flagship retail buildings on Fifth Avenue,” said Andrew Kahn, a Cushman & Wakefield senior director who led the team which represented the landlord along with colleague Jonathan Scibilia. Laura Pomerantz and Betty Ende of PBS Real Estate represented the tenant.

The identity of the landlord and the asking rents were not immediately available.

“Fifth Avenue represents a very exciting chapter in the development of the Ted Baker brand and we are creating a truly stunning and imaginative store,” said Ray Kelvin, founder and CEO of Ted Baker. — Katherine Clarke